The bull case:
-M&A: It was fucking heavy today, did you see appl and goog. Short covering out the ass. Everybody was buying everybody.
-Cash buybacks, it sure seemed to me that every ompany thought thier company was cheap today. Sure thing i want 5 billion shares of xyz after it is up 10%. Cash buy backs take time and isn't a timing tool. Cash buy backs are on in full force and eat up supply.
-KOL broke out today
-Spy broke out today
-GDX made a marginal high
-GLD hitting all time highs
-Silver showing strength
The bear case:
-insider selling at an all time high. Really high i might add.
-GDX didn't make a new high
-Bonds are showing unusal strength
- Unemployment is extremely elevated
-Pretty much all economic indicators point to a double dip. CCI, LCRI, ***** etc
-Dollar is yet to break down
-I sure am hearing about a lot of IPO's in china. Do the chinese think it is a good time to raise capital. Fuck?
If you have been follwoing me lately you are way down. I sure am, the technicals look horrid and i am shooting my last bit of bullets on the short side. The one thing i am sure of is this. If you invested $100,000 in CAT right now you would have $60,000 in march 2011.
Lets all spend are money at PF Changs tommorrow.
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